Connor Clark & Lunn Investment Management Ltd. Reduces Position in Solo Brands, Inc. (NYSE:DTC)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Solo Brands, Inc. (NYSE:DTC) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,765 shares of the company’s stock after selling 30,377 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Solo Brands worth $103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Solo Brands in the 1st quarter valued at $42,000. Williams & Novak LLC acquired a new position in shares of Solo Brands in the second quarter valued at about $42,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Solo Brands in the second quarter valued at about $43,000. Lakewood Asset Management LLC raised its stake in shares of Solo Brands by 42.5% in the third quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after purchasing an additional 24,325 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Solo Brands by 42.1% during the third quarter. Concurrent Investment Advisors LLC now owns 210,918 shares of the company’s stock worth $297,000 after purchasing an additional 62,530 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 price target on shares of Solo Brands in a report on Tuesday, November 19th. Citigroup cut their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.93.

Solo Brands Price Performance

Shares of NYSE DTC opened at $1.19 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. The stock has a market capitalization of $109.09 million, a price-to-earnings ratio of -0.35 and a beta of 2.55. The firm’s 50 day simple moving average is $1.31 and its 200-day simple moving average is $1.68. Solo Brands, Inc. has a 12 month low of $1.03 and a 12 month high of $6.36.

Solo Brands Profile

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.